Property developer PT Lippo Cikarang plans to develop
a new central business district on 300 hectares of land in
Cikarang, Bekasi, a satellite city of capital Jakarta, with an
initial investment of 1.5 trillion rupiah ($132.55 million),
said CEO Meow Chong Loh.
Construction will begin this year and the development will
continue for the next 20 years. The firm currently owns a total
of 3,000 hectares of land in the area, which is known as a
manufacturing and industrial hub. (Investor Daily)
Note: Reuters has not verified this story and does not vouch
for its accuracy.
($1 = 11,316.5 Indonesian rupiah)
(Compiled by Jakarta Newsroom; Editing by Anupama Dwivedi)